Indian Postal Department offers Group Accident Protection Insurance Policy with Tata AIG
The Indian Postal Department has launched a Group Accident Protection Insurance Policy in partnership with Tata AIG. The policy offers an insurance cover of Rs 10 lakh at a premium of just Rs 299 or Rs 399. The policy covers the cost of treatment in case of an accident and offers a claim in the event of death or disability.
Two Plans Available
The policy has two plans – one with a premium of Rs 299 and the other with Rs 399. The insured can choose the plan as per their requirement. The policy must be renewed annually and requires an account with India Post Payments Bank.
Benefits of the Policy
Under the policy, the insured gets hospitalization expenses of up to Rs 60,000 and OPD claim up to Rs 30,000 during the treatment in the hospital in case of accidental injury. In the event of accidental death, the dependents get a compensation of Rs 10 lakh. If the insured becomes completely disabled, they get 10 lakh rupees.
Partial Disability Claim
A claim of Rs 10 lakh is given only in case of partial disability. On the death of the insured, the dependents get Rs 5,000 for the funeral. The policy also covers the cost of commuting from the dependents’ city.
Additional Benefits of the Rs 399 Plan
In the Rs 399 plan, all the benefits mentioned above are available, and an expenditure of 1 lakh is given to the 2 children of the dependent for education.
Conclusion
The Indian Postal Department’s Group Accident Protection Insurance Policy is an affordable way to get insurance coverage for accidents. With a premium as low as Rs 299, the policy offers an insurance cover of Rs 10 lakh, making it a great option for those looking for basic insurance coverage.
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Sorted points by DelhiBreakings.com team.
👉 Indian Postal Department has introduced a Group Accident Protection Insurance Policy in association with Tata AIG.
👉 The policy offers two plans with premiums of Rs 299 and Rs 399 per year, respectively.
👉 By paying the premium, a person can get an insurance cover of Rs 10 lakh.
👉 The policy covers hospitalization expenses up to Rs 60,000 and OPD claim up to Rs 30,000 in case of accidental injury.
👉 In case of accidental death, dependents receive Rs 10 lakh as compensation and Rs 5,000 for the funeral.
👉 If the insured becomes completely disabled, they receive Rs 10 lakh, and in case of partial disability, they receive a claim of Rs 10 lakh.
👉 The plan of Rs 399 also provides an expenditure of 1 lakh for the education of two children of the dependent.
👉 It is mandatory to renew the insurance policy every year and have an account with India Post Payments Bank.
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